![Nigeria - Solar Cells and Light-Emitting Diodes - Market Analysis, Forecast, Size, Trends and Insights](/landing/img/reports/nigeria-solar-cells-and-light-emitting-diodes-market-analysis-forecast-size-trends-and-insights.webp)
Nigeria - Solar Cells and Light-Emitting Diodes - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingPrice for Solar Cells and Light-Emitting Diodes in Nigeria - 2022
Contents:
- Price for Solar Cells and Light-Emitting Diodes in Nigeria (CIF) - 2022
- Price for Solar Cells and Light-Emitting Diodes in Nigeria (FOB) - 2022
- Imports of Solar Cells and Light-Emitting Diodes in Nigeria
- Exports of Solar Cells and Light-Emitting Diodes in Nigeria
Price for Solar Cells and Light-Emitting Diodes in Nigeria (CIF) - 2022
In 2022, the average import price for solar cells and light-emitting diodes amounted to $1.5 per unit, which is down by -67.9% against the previous year. In general, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average import price increased by 26% against the previous year. As a result, import price attained the peak level of $15 per unit. From 2018 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1.5 per unit), while the price for India totaled $0.7 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-9.9%).
Price for Solar Cells and Light-Emitting Diodes in Nigeria (FOB) - 2022
The average export price for solar cells and light-emitting diodes stood at $41 per unit in 2022, picking up by 5.4% against the previous year. Over the period under review, the export price enjoyed a moderate increase. The most prominent rate of growth was recorded in 2015 an increase of 102%. Over the period under review, the average export prices attained the maximum at $43 per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($664 per unit), while the average price for exports to Burkina Faso ($10 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+68.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Solar Cells and Light-Emitting Diodes in Nigeria
In 2022, overseas purchases of solar cells and light-emitting diodes were finally on the rise to reach 10M units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a abrupt descent. Imports peaked at 14M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, solar cells and light-emitting diodes imports expanded sharply to $16M in 2022. In general, imports, however, continue to indicate a significant curtailment. Imports peaked at $68M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
Import of Solar Cells and Light-Emitting Diodes in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 62.6 | 45.2 | 9.9 | 13.6 | -39.9% |
India | 1.8 | 1.6 | 0.5 | 0.5 | -34.8% |
Others | 4.0 | 2.2 | 3.6 | 1.5 | -27.9% |
Total | 68.4 | 49.0 | 14.1 | 15.5 | -39.0% |
Top Suppliers of Solar Cells and Light-Emitting Diodes to Nigeria in 2022:
- China (9.0M units)
- India (0.7M units)
Exports of Solar Cells and Light-Emitting Diodes in Nigeria
In 2022, approx. 2.5K units of solar cells and light-emitting diodes were exported from Nigeria; jumping by 16% on 2021 figures. The total export volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 32% against the previous year. As a result, the exports attained the peak of 2.9K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, solar cells and light-emitting diodes exports skyrocketed to $104K in 2022. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 157% against the previous year. As a result, the exports reached the peak of $122K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
Export of Solar Cells and Light-Emitting Diodes in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Niger | 3.4 | 45.3 | 10.9 | 32.7 | 112.7% |
Democratic Republic of the Congo | 15.0 | 16.0 | 39.8 | 30.7 | 27.0% |
Benin | 4.9 | 15.8 | 11.1 | 14.7 | 44.2% |
Burkina Faso | 7.2 | 5.3 | 15.7 | 14.5 | 26.3% |
Togo | N/A | N/A | N/A | 4.4 | 0% |
Mali | 12.2 | N/A | N/A | N/A | 0% |
Rwanda | N/A | 28.4 | N/A | N/A | 0% |
Others | 5.0 | 11.4 | 7.4 | 6.6 | 9.7% |
Total | 47.6 | 122 | 84.9 | 104 | 29.8% |
Top Export Markets for Solar Cells and Light-Emitting Diodes from Nigeria in 2022:
- Burkina Faso (1389.0 units)
- Niger (491.0 units)
- Benin (440.0 units)
- Togo (136.0 units)
- Democratic Republic of the Congo (46.0 units)
This report provides an in-depth analysis of the market for solar cells and light-emitting diodes in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26112220 - Semiconductor light emitting diodes (LEDs)
- Prodcom 26112240 - Photosensitive semiconductor devices, solar cells, photodiodes, p hoto-transistors, etc.
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the market for solar cells and light-emitting diodes in Nigeria.
This report provides an in-depth analysis of the photosensitive semiconductor devices market in Nigeria.
This report provides an in-depth analysis of the semiconductor led market in Nigeria.
This report provides an in-depth analysis of the diode market in Nigeria.
This report provides an in-depth analysis of the transistor market in Nigeria.
This report provides an in-depth analysis of the mounted piezo-electric crystals market in Nigeria.
This report provides an in-depth analysis of the semiconductor device market in Nigeria.
This report provides an in-depth analysis of the semiconductor thyristor market in Nigeria.
This report provides an in-depth analysis of the global market for solar cells and light-emitting diodes.
This report provides an in-depth analysis of the global market for solar cells and light-emitting diodes.
Global exports of solar cells and light-emitting diodes rose from $56.4 in 2019 to $57.5B in 2020. China remains the leading supplier of solar cells and diodes worldwide, while the U.S. is the largest importer.
The global solar panel market accelerates along with the unabated shift towards renewable energy. China, the leader in solar panel exports, will enjoy robust foreign demand while the domestic purchases may slow due to tariff subsidies cut. The U.S. experiences a surge in solar power generation, thanks to the increasing affordability of solar cells and robust suburban construction. The EU, Asia-Pacific, Mexico and Australia are also emerging as the most promising markets due to the swift adoption of solar generation capacities.
Explore the top import markets for diodes worldwide, including China, Hong Kong SAR, Germany, and more. Gain insights into key statistics and numbers to understand the diode import market.
Global diode imports amounted to X tons in 2016, picking up by X% against the previous year figure. Overall, it indicated a tangible growth from 2007 to 2016: the total imports volume increased ...
Global diode imports amounted to X tons in 2016, picking up by X% against the previous year figure. Overall, it indicated a tangible growth from 2007 to 2016: the total imports volume increased ...
Discover the top import markets for transistors and key statistics in the global market. China, Hong Kong SAR, Germany, Singapore, and more lead the way in transistor imports.
Global exports of solar cells and light-emitting diodes rose from $56.4 in 2019 to $57.5B in 2020. China remains the leading supplier of solar cells and diodes worldwide, while the U.S. is the largest importer.
The global solar panel market accelerates along with the unabated shift towards renewable energy. China, the leader in solar panel exports, will enjoy robust foreign demand while the domestic purchases may slow due to tariff subsidies cut. The U.S. experiences a surge in solar power generation, thanks to the increasing affordability of solar cells and robust suburban construction. The EU, Asia-Pacific, Mexico and Australia are also emerging as the most promising markets due to the swift adoption of solar generation capacities.
Explore the top import markets for diodes worldwide, including China, Hong Kong SAR, Germany, and more. Gain insights into key statistics and numbers to understand the diode import market.
Global diode imports amounted to X tons in 2016, picking up by X% against the previous year figure. Overall, it indicated a tangible growth from 2007 to 2016: the total imports volume increased ...